Kuwait - Mubasher: Contracting and Marine Services Company’s profits retreated 43.9% to KWD 241,100 ($793,350) in the third quarter of 2016 from KWD 429,520 ($1.41 million) in Q3-15.
Net profit rose 3.5% to KWD 792,270 in the first nine months of 2016 from KWD 765,250 in the same period of 2015, according to a bourse filing.
The company attributed the higher profits of the nine-month period to lower administrative and general expenses.
The company earlier posted a net profit of KWD 551,160 in H1-16, compared to KWD 335,730 in the year-ago period, with a 64.2% hike.
